Looking at the weekly chart, silver seems to be using it's once resistance 17.37 price point as support now. I am looking for the yellow 21 to cross the green 55, giving us a bullish crossover.\
Currently resistance is the 18.37 region, although we have wicked over the region, we have yet to close a candle body on the weekly over it.
2 day-3day-and weekly stochs are pointing down, while monthly is still posturing straight up. We can see a slight pullback from this region, on the daily silver tested the green 55 perfectly and bounced up. Not
very bullish when uptrend breaks daily 21-but maybe a cooldown is needed to reset stochs.
Key level to watch is the weekly support 7.37 which is also synonymous with the daily green 55. Any typeof CLOSE and OPEN below this region is a clear sign of correction.
Below is our daily chart , showing the supports.
Currently resistance is the 18.37 region, although we have wicked over the region, we have yet to close a candle body on the weekly over it.
2 day-3day-and weekly stochs are pointing down, while monthly is still posturing straight up. We can see a slight pullback from this region, on the daily silver tested the green 55 perfectly and bounced up. Not
very bullish when uptrend breaks daily 21-but maybe a cooldown is needed to reset stochs.
Key level to watch is the weekly support 7.37 which is also synonymous with the daily green 55. Any typeof CLOSE and OPEN below this region is a clear sign of correction.
Below is our daily chart , showing the supports.